Lowe’s Companies, Inc. (NYSE:LOW) – Analysts at Wedbush increased their Q2 2022 EPS estimates for shares of Lowe’s Companies in a research report issued on Thursday, May 20th. Wedbush analyst S. Basham now forecasts that the home improvement retailer will post earnings per share of $3.76 for the quarter, up from their previous forecast of $3.60. Wedbush also issued estimates for Lowe’s Companies’ Q3 2022 earnings at $2.26 EPS, Q4 2022 earnings at $1.62 EPS, FY2022 earnings at $10.86 EPS, Q1 2023 earnings at $3.03 EPS, Q2 2023 earnings at $4.42 EPS, Q3 2023 earnings at $2.67 EPS, Q4 2023 earnings at $1.93 EPS and FY2023 earnings at $12.05 EPS.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, May 18th. The home improvement retailer reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.63. Lowe’s Companies had a return on equity of 296.41% and a net margin of 7.23%. The business had revenue of $24.42 billion for the quarter, compared to the consensus estimate of $22.91 billion. During the same quarter in the previous year, the company posted $1.77 earnings per share. Lowe’s Companies’s revenue for the quarter was up 24.1% compared to the same quarter last year.
LOW has been the topic of a number of other research reports. Jefferies Financial Group lifted their price target on Lowe’s Companies from $200.00 to $247.00 and gave the company a “buy” rating in a report on Thursday. Truist Securities boosted their target price on Lowe’s Companies from $185.00 to $217.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America restated a “buy” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday. Loop Capital boosted their target price on Lowe’s Companies from $195.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, April 19th. Finally, Robert W. Baird boosted their target price on Lowe’s Companies from $230.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $199.55.
Shares of LOW stock opened at $192.47 on Friday. Lowe’s Companies has a 1-year low of $119.07 and a 1-year high of $215.22. The company has a current ratio of 1.17, a quick ratio of 0.33 and a debt-to-equity ratio of 49.23. The company has a market capitalization of $138.04 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 1.45 and a beta of 1.35. The stock’s fifty day simple moving average is $199.50 and its 200-day simple moving average is $174.59.
Several institutional investors and hedge funds have recently modified their holdings of the company. Tectonic Advisors LLC acquired a new position in shares of Lowe’s Companies in the 1st quarter worth approximately $223,000. Childress Capital Advisors LLC raised its holdings in shares of Lowe’s Companies by 70.8% in the 1st quarter. Childress Capital Advisors LLC now owns 1,293 shares of the home improvement retailer’s stock worth $245,000 after buying an additional 536 shares in the last quarter. Stonnington Group LLC acquired a new position in shares of Lowe’s Companies in the 1st quarter worth approximately $2,526,000. Colony Group LLC grew its position in Lowe’s Companies by 4.3% during the 1st quarter. Colony Group LLC now owns 210,260 shares of the home improvement retailer’s stock worth $39,987,000 after acquiring an additional 8,643 shares during the last quarter. Finally, Atwater Malick LLC grew its position in Lowe’s Companies by 3.0% during the 1st quarter. Atwater Malick LLC now owns 14,642 shares of the home improvement retailer’s stock worth $2,785,000 after acquiring an additional 425 shares during the last quarter. 74.18% of the stock is owned by institutional investors and hedge funds.
In related news, Director David H. Batchelder bought 6,250 shares of the company’s stock in a transaction dated Friday, February 26th. The stock was acquired at an average cost of $159.48 per share, with a total value of $996,750.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.15% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 5th. Stockholders of record on Wednesday, April 21st were issued a $0.60 dividend. The ex-dividend date was Tuesday, April 20th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.25%. Lowe’s Companies’s payout ratio is presently 27.09%.
About Lowe’s Companies
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as appliances, décor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.
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